Tareas Varias

BBC Learning English Words in the News 4th May 2011
Portugal reaches financial aid deal

Portugal's caretaker prime minister Jose Socrates says he has reached agreement on a financial aid dealwith the EU and the International Monetary Fund. The plan includes cuts in government spending as well as selling off state-owned assets. Alison Roberts reports. In a statement with distinctly politicalovertones, no doubt with next month's general election in mind, the prime minister on Tuesday night focused more on what is not included in the €78 billion package than what is. There will, he assuredthe Portuguese people he was addressing in a live television broadcast, be no more cuts in public sector salaries, no abolition of holiday and Christmas bonuses, and no freeze in the lowest pensions- some of which in Portugal, are well below €300 a month. Essentially, Mr Socrates stressed, the plan coincides with the austerity package parliament rejected last month, leading to the minoritySocialist government's resignation, but is more far-reaching in some areas and calls for rigorous analysis and monitoring of progress. And, he said, it also includes some labour market reforms that he didnot detail. More information, and less politics, is expected from IMF and EU officials on Wednesday. Portugal's right-of-centre opposition parties, which have been consulted by the visiting officialsduring the past two weeks, had said they backed the bailout bid in principle. Alison Roberts, BBC News, Lisbon

Words in the News bbclearningenglish.com

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Vocabulary and definitions

overtones

suggested qualities or characteristics, which are not displayed openly

abolition well below austerity package

official ending or stoppinghere, a number much less than government policy to save money, including large spending cuts

far-reaching rigorous labour market

affecting something greatly, in many ways thorough and...